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On Thursday, Arab League Secretary Ahmed Aboul-Gheit congratulated Egypt, Saudi Arabia, and the United Arab Emirates (UAE) for being invited to join the BRICS.
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The BRICS group of emerging markets that currently includes Brazil, Russia, India, China and South Africa “is an important international bloc,” Aboul-Gheit tweeted.
Arab countries’ accession to the BRICS reflects growing Arab influence in the international decision-making, he wrote.
On Thursday, South African President Cyril Ramaphosa announced that the BRICS group has agreed to admit Argentina, Saudi Arabia, Egypt, Ethiopia, the United Arab Emirates, and Iran as full members of the bloc.
New composition of #BRICS will control 80% of world oil production
With the addition of Saudi Arabia, the United Arab Emirates and Iran to the BRICS, the Union will be able to control the lion’s share of the world’s oil production.
The same goes for the sharp GDP growth… pic.twitter.com/pB5ca4Ukdd
— �� (@AlertChannel)
August 24, 2023
The six countries’ membership will take effect on Jan. 1, 2024, Ramaphosa said at a press conference during the three-day BRICS Summit that ended on Thursday.
Brazil, Russia, India, and China established the BRICS group in 2006, with South Africa joining in 2010, adding the letter ‘S’ to the acronym.
Currently this economic bloc represents over 42 percent of the world’s population, 23 percent of the global Gross Domestic Product (GDP), and 18 percent of the international trade.
#FromTheSouth News Bits | The 15th BRICS Summit pursues the sustainable and inclusive development of the peoples. pic.twitter.com/eKhwF6OO8X
— teleSUR English (@telesurenglish)
August 24, 2023
